Benefits of Online ReVIEWS Management

Why Review Management Matters

reviews management

Online business reputation represents your brand, and reviews management is how a company maintains a good name. Brand management is dependent on successful online reputation management. Reputation Management is the key to successful “Transparent Marketing” – the next generation of marketing – where customers find your company due to its great reputation rather than only based on the products and services offered.

Further, the way that customers find your company is often through its online customer reviews, the new version of a personal recommendation.  The benefits of Online Reputation Management include increased trust, higher revenue, improve customer satisfaction, reduced risk, liability, and better ROI of marketing costs.

reviews management

Increased Trust

ReviewInc has conducted annual studies on the influence to choose a service with reviews, ratings, and referrals as some of the highest influence. People look to others’ opinion when choosing a company to work with. In fact, according to Nielsen, 83% of people trust referrals from friends and over 70% trust them more than advertising. In addition, online reviews are the core of online reputation management. The bottom line: customers trust online reviews.

Transparent Marketing

 If customers see that your company has responded to both good and bad reviews, it shows that your company has an active presence online and is listening and interacting with customers. Replying to social media comments is another way to increase trust and engagement.

Higher Revenue

A study from the Harvard Business School found that a one-star rating improvement for a business’ rating increased revenue from 5-9%. Companies with positive and more reviews usually attract more business online. The way people perceive a brand often has a direct impact on its sales and revenue as more people are reading online reviews than ever as they make purchasing decisions. In addition, a better reputation brings in more business leads.

Improve Customer Satisfaction

When there are negative reviews for your business with an online reputation management system in place, business owners can respond quickly and resolve any conflict swiftly. Also, customers will feel that their feedback is considered valid by the business, and there is a change coming, if needed. For positive reviews, online reputation management usually amplifies the benefits as it shows that your company cares and provides an elevated customer experience.

Improved ROI for Marketing

When a business has a good reputation, it is often discussed favorably on social media. Positive reviews are also a factor in search engine optimization, which boosts rankings on Google and results in the business ranking higher. From here, the upward cycle continues as potential customers find the business more quickly with local SEO and high conversion rates due to the value and great service provided. Factoring Reputation Management into a business marketing budget is one of the best investments are business can make.

Some statistics on the benefits of online reviews management are below:

CONSUMERS READ REVIEWS AND CONSIDER THEM IMPORTANT

82

of consumers read local reviews for businesses in their area

68

of people formed an opinion after reading 1-6 reviews (Inc, 2017)

67

of consumers say reviews are “very important” factor when choosing a solution provider (DemandGen, 2017)

REVIEWS MANAGEMENT BUILDS TRUST

92

of consumers trust peer recommendations (Search Engine Watch, 2017)

84

of people trust online reviews as much as friends (Inc, 2017)

68

of customers trust reviews more when they see a mix of good and bad reviews.

77

After having a positive experience, 77% would consider recommending to a friend (Experience Matters, 2017)

44

of people trust reviews on review sites when choosing a business to work with over other options (ReviewInc, 2020)

25

of people consider Google to be the most trusted review site. 24% would say it’s the Better Business Bureau. (ReviewInc, 2019)